What does "p" mean in this formula?
By Jessica Wood •
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I'm doing these word problem and I'm not sure what keywords indicate that, that value is "p." Can someone please clarify for me and tell me how they differentiate between them?
These are the two word problems:
"A tablet PC manufacturer wishes to estimate the proportion of people who want to purchase tablet PCs which cost more than $700. Find the required sample size to yield a 90% confidence interval whose length is below 0.04."
"In estimating a population proportion using a large sample, the value of is assumed to be 0.35, and its 95% error margin is 0.02. Find the sample size to meet the error margin."
Do I use the same formula for them?
